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Penthouse's $19 million discounted sale is a sign of a weak market

By Patrick following x   2018 Mar 31, 12:36pm 1,133 views   7 comments   watch   nsfw   quote     share    


https://www.themaven.net/mishtalk/economics/rot-starts-at-the-top-end-sweet-deal-on-19-million-discounted-ny-condo-SMqQvNJZbU-mydu24O8KTA/

Real Estate Rot Starts at The Top End

In most markets, rot starts at the periphery and eats its way to the core. With real estate, price discounting starts at the top and works its way lower.

it's highly likely we have seen the peak this cycle at the top end. The stock market is starting to crumble and other asset prices are likely to follow.
1   ThreeBays   ignore (0)   2018 Mar 31, 12:51pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

This home was so overpriced, it's been on the market since 2013. Hardly a good example to base predictions on.
2   Ceffer   ignore (1)   2018 Mar 31, 1:21pm   ↑ like (2)   ↓ dislike (0)   quote   flag        

Wow, an article by MishFuck. Haven't heard from him for a while.
3   APOCALYPSEFUCKisShostikovitch   ignore (37)   2018 Mar 31, 1:54pm   ↑ like (3)   ↓ dislike (0)   quote   flag        

MishFuck is a clown. That condo is worth at least as much as Finland. More. He knows it.
4   joshuatrio   ignore (0)   2018 Mar 31, 2:22pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

Lol. I'm not a huge fan of Mish anymore. He's made too many wrong calls.

Homes in my neighborhood are selling in a day.
5   mell   ignore (1)   2018 Mar 31, 2:25pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Maybe, but people in the SF bay area for example have been out-priced of anything but crap shacks long ago, so I think the major competition will always be around "starter" homes (i.e. crappy shacks). Also I thought the high end condo/house market has topped out a while ago.
6   HeadSet   ignore (1)   2018 Mar 31, 8:25pm   ↑ like (1)   ↓ dislike (0)   quote   flag        

Penthouse's $19 million discounted sale is a sign of a weak market

Oh. I thought you were talking about a men's magazine.
7   Ceffer   ignore (1)   2018 Mar 31, 8:27pm   ↑ like (0)   ↓ dislike (0)   quote   flag        

HeadSet says
Penthouse's $19 million discounted sale is a sign of a weak market

Oh. I thought you were talking about a men's magazine.


Beaver shots aren't as profitable as they used to be.

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